Sprint Nextel generates $10 billion in quarterly revenue

MikeMaynard

WASHINGTON (MarketWatch) -- Sprint Nextel Corp.
S, +1.55%
reported second-quarter net income of $370 million, or 12 cents a share, down from $600 million, or 40 cents, earned in the same period during 2005. Quarterly revenue from the telecommunications services provider reached $10.01 billion from $5.68 billion, reflecting the merger of long-distance carrier Sprint with wireless operator Nextel. Earnings from continuing operations were 10 cents a share for the latest quarter, as compared to 22 cents a year ago. Reston, Va.-based Sprint Nextel said reported earnings included 19 cents of merger-related amortization expense and 3 cents of charges for special items for the latest quarter, as well as charges amounting to 2 cents a share a year earlier. Analysts, on average, had been looking for earnings of 33 cents a share on revenue of $10.39 billion, according to estimates compiled by Thomson First Call. Shares of Sprint Nextel added 61 cents, or 3.1%, to end Wednesday's trading at $20.13.

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